Viasat (NASDAQ:VSAT) Sets New 1-Year High – What’s Next?

Viasat Inc. (NASDAQ:VSAT)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $53.98 and last traded at $53.69, with a volume of 3353679 shares changing hands. The stock had previously closed at $45.23.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Needham & Company LLC lifted their price target on Viasat from $45.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Deutsche Bank Aktiengesellschaft upgraded Viasat from a “hold” rating to a “buy” rating and upped their price objective for the company from $36.00 to $48.00 in a research note on Friday, February 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a research report on Wednesday, January 21st. Morgan Stanley set a $51.00 price target on Viasat in a report on Friday, January 16th. Finally, William Blair restated an “outperform” rating on shares of Viasat in a research note on Tuesday, January 13th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.71.

Viasat Stock Performance

The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of -20.73 and a beta of 1.45. The stock has a 50 day simple moving average of $46.22 and a 200 day simple moving average of $39.32. The company has a quick ratio of 1.90, a current ratio of 2.13 and a debt-to-equity ratio of 1.35.

Insider Buying and Selling at Viasat

In related news, SVP Benjamin Edward Palmer sold 2,400 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $46.21, for a total transaction of $110,904.00. Following the completion of the transaction, the senior vice president directly owned 25,431 shares in the company, valued at $1,175,166.51. This represents a 8.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark D. Dankberg sold 100,000 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $40.34, for a total value of $4,034,000.00. Following the completion of the sale, the chief executive officer directly owned 1,434,993 shares in the company, valued at $57,887,617.62. This represents a 6.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 140,881 shares of company stock worth $5,973,317. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quent Capital LLC bought a new position in Viasat in the 3rd quarter worth about $25,000. Hantz Financial Services Inc. raised its holdings in shares of Viasat by 6,815.4% during the third quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock valued at $26,000 after buying an additional 886 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in shares of Viasat during the third quarter worth approximately $28,000. Pilgrim Partners Asia Pte Ltd bought a new position in Viasat in the 4th quarter worth approximately $36,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Viasat in the 4th quarter valued at approximately $38,000. 86.05% of the stock is owned by institutional investors and hedge funds.

Viasat Company Profile

Viasat, Inc (NASDAQ: VSAT) provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat’s product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.